Brazil's state-run oil company, Petrobras, is monitoring the fallout from the Iran conflict, which has resulted in a surge in global oil prices. The conflict disrupted shipping through the key Strait of Hormuz, following Israel and the U.S. strikes that killed Iran's supreme leader, Ali Khamenei. Brent crude rose by as much as 13% on Monday and was up about 8% around noon Brasilia time. PetrobrAS is also monitoring the impact of the conflict's impact on oil and fuel production, and logistical bottlenecks. The potential closure of the strait, which carries 20% of the world's oil flows, could significantly impact global oil flows and disrupt shipping routes.